I'm not an expert in Athens to be honest.But I'd look mostly into areas close to the metro (underground) stations, and also into the high end areas...

it's crazy to tie up a million cash to build a duplex. you can leverage that and build so much more units. ohio is one of the cheapest markets in the country to build and I'd pass on this deal if it's a million which I'm assuming it is of cash, with that amount of money you could be the majority partner in a 50+ unit deal with non recourse debt on a HUD 221d4 loan and have more than 50% equity. super low risk, urban core, non suburban deal in Columbus Ohio.

First of all, I'd recommend identifying a strategy for your real estate investments.

I'd like to get some decent cash flowing into the business before turning to rentals.

Wish I'd gotten a line instead of the portfolio loan, as we could draw off it. 

I am quite familiar with CRE (previously working as a CRE credit analyst), although would like to get started with residential real estate investing.

(although NY is a non-recourse state it may not apply to multifamily). 

I'd select one or two that have the best opportunity for appreciation and rent them for 12-18 months to alleviate the cash flow issue.

Who knows, but they are voting with their wallets, and they are deploying billions - I'd think they know something.How long will this last?

I’d love to compare to what I’m finding and would be a helpful learning experience for me.I do want point out that not every investor wants to BRRRR and would like a turn key property which supports Fix and Flipping.